New foundation will facilitate transparent and
neutral governance of Global Synchronizer, the interoperability
backbone of the Canton Network
ZURICH, July 1, 2024
/PRNewswire/ -- The Global Synchronizer community today announced
the formation of the Global Synchronizer Foundation (GSF).
Supported by the Linux Foundation, the GSF will facilitate
transparent and fair governance of the Global Synchronizer, the
interoperability backbone of the Canton Network.
Foundation will facilitate neutral
governance of Global Synchronizer, the interoperability backbone of
Canton Network
The Global Synchronizer is a decentralized service
that can synchronize independent applications across the Canton
Network. Most recently, the Global Synchronizer enabled 45+
institutions to demonstrate hundreds of interoperable transactions
across 22 applications in the Canton Network pilot. The Global
Synchronizer Foundation will govern one of the nodes in the
decentralized Global Synchronizer.
In addition, a new lab called Splice has been formed in the
Hyperledger Foundation to provide open-source governance for the
code utilized by the Global Synchronizer nodes. Splice enables
anyone in the Canton Network to launch their own version of a
synchronizer to meet their interoperability needs.
"We are pleased to support the formation of the Global
Synchronizer Foundation," said Daniela
Barbosa, General Manager, Blockchain and Identity, at the
Linux Foundation. "By providing a means to improve Global
Synchronizer's interoperability through open collaboration, we
believe the Linux Foundation can help improve its utility for all
community participants."
7RIDGE, Bitwave, Broadridge, Calastone, Cumberland SV, Digital
Asset, EquiLend, Euroclear, Global Blockchain Business Council,
IntellectEU, Kaleido, LendOS, Liberty City Ventures, MPCH, Obsidian
Systems, SBI Digital Asset Holdings, Taurus, and Tradeweb have
joined as founding members of the GSF. The GSF will consist of an
operating board and a number of steering committees with
participation from its members. GSF members will have the
opportunity to play various roles as utility providers, service
providers, industry advocates, operators, and app users.
The MainNet of Global Synchronizer went live on June 25, 2024, and is specifically designed to
meet the connectivity and control demands of financial services
institutions and the transaction of real-world assets, allowing
participants to leverage all of the benefits of a
decentralized network of networks without sacrificing
regulatory control and privacy requirements.
"We are excited to reach this important milestone in the
maturation and decentralization of the Canton Network," said
Eric Saraniecki, Co-Founder and Head
of Strategic Initiatives at Digital Asset. "Being able to form the
GSF in collaboration with the Linux Foundation demonstrates the
quality of this ecosystem and its commitment to providing fair and
transparent governance for all participants."
The Global Synchronizer Foundation is committed to facilitating
the adoption of the Global Synchronizer. To learn more about the
Global Synchronizer Foundation, its participants, and how to get
involved, please visit sync.global.
About Linux Foundation
The Linux Foundation is the world's leading home for
collaboration on open source software, hardware, standards, and
data. Linux Foundation projects are critical to the world's
infrastructure, including Linux, Kubernetes, Node.js, ONAP,
OpenChain, OpenSSF, PyTorch, RISC-V, SPDX, and more. The Linux
Foundation focuses on leveraging best practices and addressing the
needs of contributors, users, and solution providers to create
sustainable models for open collaboration. For more information,
please visit us at linuxfoundation.org.
Media Contact:
Noah Lehman
nlehman@linuxfoundation.org
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SOURCE The Linux Foundation